GONGNIU(SH:603195) 凤凰网财经·2025-12-19 03:49Core Viewpoint - The legal dispute between Bull Group and its competitor, Jia's Company, over the advertising slogan "7 out of 10 Chinese households use Bull" highlights significant issues regarding advertising standards and consumer protection in the industry [1][3]. Group 1: Legal Dispute Overview - Bull Group has filed a lawsuit against Jia's Company for commercial defamation, seeking 4.2 million yuan in damages due to negative comments made about its advertising slogan [2][9]. - Jia's Company argues that its comments are legitimate market observations aimed at clarifying consumer information and pushing for standardized advertising practices [1][7]. - The conflict escalated when Jia's Company refused to comply with Bull's demands to retract statements and issue an apology, leading to the lawsuit [2][3]. Group 2: Advertising Controversy - The slogan in question has faced scrutiny for potentially misleading consumers, with Jia's Company claiming it constitutes "big words to attract attention and small words to disclaim responsibility" [5][20]. - Bull Group maintains that the slogan is supported by legitimate third-party research and complies with advertising laws, despite previous regulatory challenges [24][25]. - Legal experts suggest that while the slogan may raise concerns, it cannot be definitively classified as false or misleading under current laws [25][29]. Group 3: Financial Performance and Market Position - Bull Group is experiencing a challenging phase, with a reported revenue of 12.198 billion yuan for the first three quarters of 2025, a decrease of 3.22% year-on-year, and a net profit decline of 8.72% [32][33]. - The company's traditional business segments, particularly electrical connections and smart electrical lighting, are facing growth bottlenecks, contributing to the overall decline in performance [33][34]. - Despite a 30% growth in its new energy business, it remains insufficient to offset the downturn in traditional sectors [34]. Group 4: Shareholder Actions and Market Sentiment - The actual controller of Bull Group, Xueping Huan, has initiated a significant share reduction plan, selling 2% of his shares for approximately 1.456 billion yuan, raising concerns about management confidence amid declining performance [35][36]. - Cumulatively, Huan has liquidated over 3 billion yuan in shares within two years, which has been interpreted by the market as a lack of faith in the company's future [36][37]. - The combination of ongoing legal disputes, declining financial performance, and shareholder actions has placed Bull Group in a precarious position, prompting questions about its ability to regain market trust and drive new business growth [32][37].